16 December 2010
My client enetered into an agreement with developer in 2008.Per the agreement, she got 4 flats and developer got 4 flats.Now, my query is 1)Whether capital gains arises in this case? If so, what could be the sale consideration - cost of constuction by the builder or stamp duty value of the flats sold by builder? 2)If taxable,can she claim deduction u/s 54 for all 4 flats.
18 December 2010
First calculate the cost of the flat sold the sale value of which is as per the sale doc.While arriving at the cost various factors will require careful consideration.
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